KPI Bridge Oil, a global trader and broker in marine fuels, marine lubricants and risk management products, has announced the promotion of Victoria Freeman to Chief Financial Officer.Freeman, 34, joined KPI Bridge Oil as Accountant in 2009 and…
A vessel carrying soybeans from the United States to China changed its destination to South Korea on Thursday, shipping data showed, amid a trade war that has decimated U.S. shipments of the commodity to the world's top oilseed importer.The Star Laura…
Container line joint venture Ocean Network Express (ONE) dragged down NYK Line in the first half of 2018 ended September 30 with with Japanese shipping group in the red.NYK Line reported a loss of JPY 9.7 billion for the six months ended September 30…
The CMA CGM Group has completed the acquisition of Containerships, a container-transportation and logistics company.The European Commission authorized this transaction on October 22nd. Containerships, which specializes in the intra-European market…
Freight volumes passing through the Port of Gothenburg during the year to date are as follows. Container traffic is up 20% compared with the preceding year, and energy product flows remain consistently strong.A press release from the deep-water…
The South Korean container carrier Hyundai Merchant Marine (HMM) has chalked out an ambitious blueprint for expansion.The ocean carrier's CEO C.K. Yoo presented HMM’s target of building up its capacity to 100 million TEUs and posting USD 10 billion in annual revenue by 2022…
COSCO Shipping Ports said that its revenue for the three months ended 30 September 2018 surged by 62.6% to US$253.0 million. The net profit for the same period rose by 11.8% to US$75.1 million.The ports operator in a press release also said…
Jim Newsome, president and CEO, highlights cooperation and collaboration.South Carolina Ports Authority (SCPA) president and CEO, Jim Newsome, presented the annual State of the Port to an audience of approximately 600 customers, elected officials…
Port to build oil export terminalPrivate equity firm Carlyle Group will partner with the Port of Corpus Christi, the top oil export hub in the United States, to develop a major crude oil export terminal on Harbor Island.Carlyle's announcement comes as infrastructure in the U…
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rise by 283 points in the week ending Monday to 6,112.'Led by strong rate increases on backhaul trades, the SSY Pacific Capesize Index climbed 283 points week-on-week to the highest level since August at 6…
APM Terminals’ Moín Container Terminal (MCT) in Costa Rica has been granted permission by the National Council of Concessions (CNC) to start commercial operations at its first deep-sea berth. This is a key step for the terminal, which is on schedule to be fully operational in February 2019…
Singapore-based rig builder Sembcorp Marine (Sembmarine) has reported a loss of S$30 million (US$21.75 million) in the third quarter of the year amid lower revenues and reduced activity. For the nine months to September 30, 2018 the loss is $80…
Allard Castelein, the CEO of the Port of Rotterdam Authority, and Camilo Santana, Governor of the Brazilian state of Ceará, signed an investment agreement regarding the Port of Rotterdam Authority’s participation in the development of the port of Pecém…
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, dipped 2 percent on Thursday, weighed down by weaker demand for capesize and panamax vessel segments.The overall index, which factors in rates for capesize…
International accountant and shipping consultant Moore Stephens says total vessel operating costs in the shipping industry are expected to rise by 2.7% in 2018 and by 3.1% in 2019, according to our latest survey.Responses to the firm’s latest…